Past Snack, a banana chips model, has secured $8.3 million in a Sequence A funding spherical led by 12 Flags Group, a client business-focused fund established by Rakesh Kapoor, the previous world CEO of Reckitt Benckiser, based on an organization’s assertion at present, January 9.
Within the contemporary spherical, current key investor NAB Ventures, Japanese VC agency Enrission India Capital and different current buyers together with Faad Community, additionally participated.
Past Snack plans to make use of the funding to drive its growth into new territories, foster product innovation, and strengthen its provide chain infrastructure, the corporate stated within the assertion.
“We’re extremely excited concerning the alternative to companion with the Past Snack staff. Our funding in Past Snack isn’t just about worth creation and progress. It’s additionally about celebrating and selling one among India’s homegrown manufacturers. We look ahead to seeing how this collaboration will drive innovation, sustainability, and convey pleasure to snack lovers all over the place,” stated Rakesh Kapoor, Founding father of 12 Flags Group.
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Past Snack goals to present banana chips a worldwide makeover and make the model a family title. The corporate’s banana chips are cholesterol-free, trans fat-free and GMO free with no synthetic colors or flavours. Together with the brand new flavours, additionally they are available peri peri, salt and black pepper, bitter cream onion and parsley flavours and the standard salted flavour.
“Banana chips have usually been underrated because of lack of innovation and proper expertise, however in actuality , they’re probably the most pleasant snacks on the market. Therefore we determined to drive that innovation and convey the newest expertise in banana chips,” stated Manas Madhu, founding father of Past Snack.
Earlier, Past Snack raised $4 million from NAB Ventures, 100X VC, Faad Community, and notable angel buyers. The corporate claims to have 20,000 shops. It additionally sells its merchandise on e-commerce, and fast commerce platforms.
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